Treasury yields continued to climb on Wednesday, as new easing efforts from China’s central bank along with stronger-than-expected economic boosted expectations that the Federal Reserve will raise interest rates later this year.
While Wall Street rallied at the open, investors sold bonds. The 10-year Treasury yield climbed to its highest point in more than a week, after posting its largest one-day increase in two years on Tuesday.
The 10-year yield has swung widely in recent days, dropping on Monday to its lowest point in nearly four months and then climbing on Tuesday.
On Wednesday, the 10-year yield was up 2.6 basis points to 2.161%, trading slightly above its 200-day moving average of 2.12% , according to data from CRT Capital.